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Taxes Payable (Tables)
3 Months Ended
Sep. 30, 2024
Taxes Payable [Abstract]  
Schedule of Income Taxes and Related Payables Income Taxes and Related Payables
   September 30,   June 30, 
   2024   2024 
VAT provision  $(721,411)  $(692,476)
Income tax payable   (2,204,977)   (2,127,759)
Other levies   623,183    590,875 
Repatriation tax   29,010,535    29,010,535 
Total  $26,707,330   $26,781,175 
Schedule of Provisions for Income Taxes The provision for income taxes consists of the following:
   September 30,   September 30, 
   2024   2023 
Current tax - foreign  $(38,878)  $(4,413)
Deferred tax   
-
    
-
 
Total  $(38,878)  $(4,413)
Schedule of Deferred Tax Assets Significant components of deferred tax assets were as follows:
   September 30,   June 30, 
   2024   2024 
Deferred tax assets        
Deferred Tax Benefit   34,015,109    32,804,190 
Valuation allowance   (33,467,759)   (32,295,718)
Total deferred tax assets  $547,349   $508,471 

 

Schedule of Effective Income Tax Rate Reconciliation Actual income tax benefit reported in the consolidated statements of operations and comprehensive income (loss) differ from the amounts computed by applying the US statutory income tax rate of 21.0% to income before income taxes for the three months ended September 30, 2024 and 2023 for the following reasons:
   China
15% - 25%
      

United
States 21

%

       Total     
Pretax loss  $(1,317,653)      $(563,450)      $(1,881,103)    
                               
Expected income tax expense (benefit)   (329,413)   25.0%   (118,324)   21.0%   (447,738)     
High-tech income benefits on Jinong   
 
    
-
    
 
    
-
    
 
      
Losses from subsidiaries in which no benefit is recognized   290,535    (22.0)%   
 
    
-
    290,535      
Change in valuation allowance on deferred tax asset from US tax benefit   
 
    
-
    118,324    (21.0)%   118,324      
Actual tax expense  $(38,878)   3.0%  $
-
    
-
   $(38,878)   2.1%
   China
15% - 25%
      

United
States 21

%

       Total     
Pretax loss  $(1,243,531)      $(545,075)      $(1,788,606)    
                               
Expected income tax expense (benefit)   (310,883)   25.0%   (114,466)   21.0%   (425,349)     
High-tech income benefits on Jinong   
-
    
-
    
-
    
-
    
-
      
Losses from subsidiaries in which no benefit is recognized   306,469    -24.6%   
-
    
-
    306,469      
Change in valuation allowance on deferred tax asset from US tax benefit   
-
    
-
    114,466    (21.0)%   114,466      
Actual tax expense  $(4,413)   0.4%  $
-
    -   $(4,413)   0.2%